Grayscale’s Crypto Fund With BTC, ETH, ADA Etc. Now Reports to SEC
Grayscale Investments has reached a new milestone with the Securities and Exchange Commission (SEC). Digital asset management giant now has three SEC reporting funds, with the newest addition being the Digital Large Cap Fund. The company has also filed to make three other funds SEC reporting companies.
Grayscale Investments, the world’s largest crypto asset manager, made two announcements Monday.
The first was that the registration statement on Form 10 filed with the U.S. Securities and Exchange Commission (SEC) for the Digital Large Cap Fund (OTCQX: GDLC) has become effective. The fund is, therefore, an SEC reporting company, the company confirmed, elaborating:
“The fund is Grayscale’s first diversified digital currency investment fund to become an SEC reporting company with its shares registered pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended.”
Grayscale Digital Large Cap Fund will now file its reports and financial statements with the SEC, along with current reports, in addition to complying with all other obligations under the Securities Exchange Act.
The Digital Large Cap Fund’s components as of the end of the day on July 9 comprised 67.49% bitcoin (BTC), 25.35% ethereum (ETH), 4.30% cardano (ADA), 1.03% bitcoin cash (BCH), 0.96% litecoin (LTC), and 0.87% chainlink (LINK).
The 2nd announcement on Monday was that Grayscale has filed registration statements on From 10 to make three other crypto investment products SEC reporting companies. They are Bitcoin Cash Trust, Ethereum Classic Trust, and Litecoin Trust.
Besides the Digital Large Cap Fund, Grayscale has two other SEC reporting products: Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).
According to vice president of legal at Grayscale, Craig Salm, the move will give investors a high level of transparency and confidence in the Large Cap Fund.
“We hold our products to a higher standard because this is what investors want and what we believe they deserve. Events such as the [Large Cap] Fund becoming our third SEC reporting company, and the additional Form 10 filings, signal that there is continued investor interest in gaining exposure to the growing digital currency ecosystem within existing regulatory frameworks, and that regulators continue to engage with market participants in the asset class.”
